BLS International registers 93% growth in FY18

BLS International Services Limited (BLS), a specialist provider of visa, passport, attestation, consular and citizen services to the governments across the world reported a net profit of Rs. 96.5 crore for FY18, up by 93 percent from the corresponding quarter of last fiscal.

Total income for the year ended March 2018 stood at Rs. 793.1 crore, up by 24.4 percent, as compared to Rs. 637.4 crore in the last year, while its earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at Rs. 162.7 crore from Rs. 84.8 crore in FY17.

"Q4 FY17-18 has shown some remarkable growth in the business due to several additions in the global contract and their timely deliverables. Being the face of the government across globe and providing the best and quality services to the citizens, coupled with remarkable results reflect the pace at which the company is growing and that is likely to continue for the next quarters as well," said Shikhar Aggarwal, Joint Managing Director, BLS International Services Limited.

In the domestic market with front-end and citizen service project in Punjab, BLS is successfully operating 2147 Sewa Kendras covering 22 districts of the state of Punjab.

BLS International serves client governments via visa and passport application centers across Asia, Africa, Europe, South America, North America and the Middle East for over 36 client governments across 62 countries. It is also under contract with the Islamic Republic of Afghanistan in UAE representing the Afghanistan Mission in UAE, Qatar, Oman, Bahrain and Kuwait.